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Continue Reading ⋅ 30 January 2023
The Wharf Residence is a leasehold development in Taman Tasik Prima, Puchong. It is developed by Symphony Life Berhad (formerly known as Bolton Berhad), and it is part of a development in Puchong, known as The Wharf, which was launched in 2010.
Symphony Life Berhad developed Taman Tasik Prima, an integrated 345-acre township of mixed residential and commercial projects that are built around a 200-acre lake. The Wharf is the township’s commercial centre that sits on 15 acres of leasehold land. The integrated development comprises boutique showroom offices, flexi-office suites, the serviced residence, and a mall. Today, Taman Tasik Prima’s GDV is in excess of RM1 billion.
The first component of The Wharf, the BizWalk, was launched in August 2010, and it consists of 32 boutique 3-storey showroom office units priced at RM2.2 million each. The mall was completed in 2013, and it further strengthened the appeal of The Wharf Residence. There is a link-bridge from the residential building to the mall.
The Wharf Residence was launched in 2011 and more than 80% of the first block was sold during the launch. It comprises 3 high-rise towers with 1,002 units. The first block of 334 units had a gross development value (GDV) of RM105 million. The second tower of The Wharf Residence was launched in 2012, and they were sold at 7.9% more than the launch prices of units in the first tower.
Key highlights of The Wharf Residence:
- Located within a self-contained development
- Lakeside environment fronting a 200-acre lake
- Integrated convenience; linked to the mall
- External storage room for all units on the same floor
- Rooftop (above podium) facilities overlooking the mall and lake
Address: Taman Tasik Prima, Puchong, 47150 Selango
Property Type: Serviced Residence
Land Title: Commercial
Total Units: 1,002
Tenure: Leasehold
Year of Completion: 2014
Built-up Area: 790 sq ft – 1,894 sq ft
Facilities:
- Swimming pool
- Children’s pool
- Gymnasium
- High speed broadband
- Children’s playground
- Landscaped area
- Multi-purpose hall
- Surau
Launch Price: From RM275,130
Launch Price Per Sq Ft: Average of RM380 psf
Maintenance Fee: RM0.26 psf
Award:
- Asia Pacific Property Awards 2011 – Best Mixed Use category for Malaysia
Project Details
The Wharf Residence comprises 3 towers on a 15-acre lifestyle integrated commercial development, called The Wharf. The project is located within the 345-acre leasehold Taman Tasik Prima in Puchong. The Wharf also offers boutique showroom offices and a retail mall. Thus, the Wharf Residence would be ideal for homebuyers who enjoy the integrated convenience of a retail mall.
The first block of The Wharf Residence, Tower 8, sold out within 5 months of its launch. Units at the second block, Tower 18, have an advantage as all the units will enjoy great views of the lake. The third block is called Tower 28,
The RM400 million The Wharf Residence has 1,002 units, with 334 units in each tower. The built-ups range from 795 sq ft to 1,173 sq ft and come in two design types, 2-bedroom and 3+1 bedroom. The average selling price of Tower 18 is RM410 per sq ft (psf), which translates to a 7.9% increase against prices of the first block, Tower 8, that was launched in November 2011 with an average selling price of RM380 psf. The units were priced from RM275,130 for the first block.
The Wharf Residence offers purchasers full condo facilities, including a swimming pool, children’s pool, gymnasium, playground, yoga zone, jogging track and a landscaped garden. Another unique feature of the units is the external storage room located on the same floor as the unit. Units were priced from RM275,130.
Key features of The Wharf Residence:
- Wide range of built-up, from 551 sq ft to 1,985 sq ft
- Equipped with condensed air-cond piping in all bedrooms and living area
- Lake-fronting and connected to a shopping mall.
- Panic button connected to the guardhouse
- Ceiling height of 10.3 ft
|
Tower |
Info |
Launch Price |
|
Tower 8 |
· 334 units · 795 sq ft to 1,173 sq ft · 2- to 3+1 bedrooms · 5 levels of carpark · Level 5: drop-off and facilities |
Average of RM380 per sq ft |
|
Tower 18 |
· 334 units · 795 sq ft to 1,173 sq ft · 2- to 3+1 bedrooms · 2 bathrooms |
Average of RM410 per sq ft |
|
Tower 28 |
· 334 units · 790 sq ft – 1,894 sq ft · Type A (1,146 – 1,314 sq ft) 3+1 rooms · Type B (790 – 892 sq ft) 2 & 2+1 rooms · Type C (1,894 sq ft) 4 rooms · Type D (600 sq ft) 1 room · Type E & F (550 sq ft) 1 room · Type G (705 sq ft) 2 rooms |
Average of RM520 psf |
Location
The Wharf Residence is located within a commercial development. So, residents will have amenities close by. The development is also connected to various parts of Selangor as it is highly accessible via Jalan Puchong, Putra Prima Interchange, Damansara-Puchong Expressway (LDP), North–South Expressway Central Link (ELITE), and New Klang Valley Expressway (NKVE).
There are also schools near The Wharf Residence, including SMK Puchong Utama 1, SK Puchong Utama 1, SK Puchong Utama 2 and SMK Puchong Perdana – all within a 15 minutes’ drive. It is easily accessible via the Putra Prima Interchange and also major highways like the Damansara-Puchong Highway, ELITE and NKVE.
Key highlights for The Wharf Residence’s location:
- About 15 minutes’ drive to IOI Mall, and 30 minutes to Putrajaya/Cyberjaya
- Surrounded by an existing catchment population within the vicinity; drawing from the growing population of southern Puchong, Dengkil, Seri Kembangan, Serdang, Putrajaya, and Cyberjaya
- Part of The Wharf development, which makes it connected to the retail mall. The Wharf is an entertainment, dining, business, and shopping hub.
Besides these, The Wharf Residence is also rather close to LRT stations.
Accessibility
- Jalan Puchong
- Putra Prima Interchange
- Damansara-Puchong Expressway (LDP)
- North–South Expressway Central Link (ELITE)
- New Klang Valley Expressway (NKVE)
- LRT Station 11 – Puchong Prima / Lake Side City
Education
- SMK Puchong Utama 1
- SK Puchong Utama 1
- SK Puchong Utama 2
- SMK Puchong Perdana
- SMK Puchong Batu 14
- SJK (C) Han Ming
- KFCH International College
- Limkokwing University
- Multimedia University
Medical Care
- Columbia Asia Hospital
Shopping
- IOI Mall
- Tesco
- Giant
- AEON Big
Recreation
- Kinrara Golf Club
- Bukit Jalil National Stadium
Analysis
Taman Tasik Prima has emerged as one of the preferred townships in Puchong on the strength of its planning and innovative products, despite initial concerns of its location deep into Puchong. As for the residential units, the lake was initial met with scepticism, but it is now a plus point for buyers and renters.
Many are optimistic towards the price appreciation of the projects there, as it’s also surrounded by mature residential estates. The completion of the interchange at 14th mile Puchong and the Taman Tasik Prima’s north entrance put The Wharf Residence within a short drive away from the many townships in Puchong.
Available listings in PropertyGuru in February 2021 show that the asking monthly rental for 818 sq ft units are from RM900 to RM1,600, while purchase prices are asking from RM270,000 to RM390,000.
For units purchased at RM300,000, and rented out at RM1,200 per month, the gross rental yield would be 4.8% per annum.
Here’s a glance at properties in Puchong.
|
Project |
Land Tenure |
Property Type |
Completion |
Built-up |
Approximate Launch Price |
|
The Wharf by Symphony Life Berhad |
Leasehold |
Serviced Residence |
2014 |
790 sq ft – 1,894 sq ft |
From RM275,130 |
|
SkyPod Residences by IOI Properties |
Freehold |
Serviced Residence |
2015 |
634 sq ft – 1,248 sq ft |
From RM430,000 |
|
Leasehold |
Serviced Condominium |
2017 |
1,824 sq ft – 2,620 sq ft |
RM480,000 – RM680,000 |
|
|
Leasehold |
Condominium |
2017 |
859 sq ft – 2,357 sq ft
|
RM480,000 – RM1.2 million |
|
|
Freehold |
Terrace |
2020 |
2,305 sq ft – 3,396 sq ft
|
From RM928,000 |
|
|
Leasehold |
Serviced Apartment |
2021 |
545 sq ft – 1,063 sq ft |
From RM250,000 |
|
|
Freehold |
Serviced Residence |
2024 |
813 sq ft – 1,845 sq ft
|
From RM541,800 |
Summary
One of the factors that led to the good take-up rates at Taman Tasik Prima is Symphony Life’s track record in creating value and capital appreciation. They have been developing properties since 1964, and they have cemented themselves as one of the oldest and more established developers in Malaysia.
Some of their completed developments include TWY (duplex condo) at Mont Kiara, Star Residences (mixed) at KL city centre, Taman Midah in Cheras, sixceylon (condominium) at KL city centre, Avani Heights (bungalows) at Sungai Petani, Kedah, Arata (condo) at Bukit Tunku, and Tijiani Ukay (bungalows) at Ukay Perdana, among others.
As for upcoming developments, they include illi (serviced apartment & shops) in Cheras, Signal Hill in Kota Kinabalu, and Union Suites (SOHO, duplex) at Bandar Sunway.
For a 818 sq ft unit at The Wharf Residence priced at RM300,000, here are its estimated loan figures:
- LTV / margin of finance: 90%
- Down payment (10%): RM30,000
- Loan amount: RM270,000
- Loan term: 30 years
- Interest rate: 3.2%
- Monthly repayment: RM1,168
- Approximate required gross annual income: RM47,000*
These calculations are based on the PropertyGuru Home Loan Calculator, and PropertyGuru’s Home Loan Eligibility and Affordability Calculator.
If you’re interested in calculating Debt Service Ratio (DSR), you may refer to the PropertyGuru Home Loan Pre-Approval tool. It is FREE to use and helps you avoid loan rejections. It has a 99.9% accuracy so you can be sure of home loan approval!
* Assumptions: You have no other monthly debt obligations, and 30% of gross income will be spent on the housing loan. As a rule of thumb, banks usually loan up to 30% of your gross annual income.
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